Quote:
Originally Posted by simpleyme
I do not think it makes a difference since most people move repeatedly or borrow against their homes,
everyone I know keeps refinancing so after 5 years they still owe for 30 years anyway
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That's a common mistake. People end up taking 50 years to pay off a 30-year loan. We started with a 30 but last time we refied we went to a 25. If we refi again, I'd go to a 15.